Hahn Capital Management LLC Acquires 21,699 Shares of Formula One Group (NASDAQ:FWONK)

Hahn Capital Management LLC raised its holdings in Formula One Group (NASDAQ:FWONK) by 47.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,197 shares of the company’s stock after purchasing an additional 21,699 shares during the quarter. Formula One Group makes up about 2.7% of Hahn Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Hahn Capital Management LLC’s holdings in Formula One Group were worth $6,226,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lountzis Asset Management LLC raised its position in Formula One Group by 17.0% in the 3rd quarter. Lountzis Asset Management LLC now owns 5,954 shares of the company’s stock valued at $461,000 after purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC raised its position in Formula One Group by 3.0% in the 3rd quarter. MetLife Investment Management LLC now owns 6,946 shares of the company’s stock valued at $538,000 after purchasing an additional 203 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Formula One Group during the fourth quarter worth $827,000. Janney Montgomery Scott LLC raised its position in shares of Formula One Group by 16.9% during the third quarter. Janney Montgomery Scott LLC now owns 27,340 shares of the company’s stock worth $2,117,000 after acquiring an additional 3,958 shares during the last quarter. Finally, Greenwood Gearhart Inc. raised its position in shares of Formula One Group by 8.1% during the third quarter. Greenwood Gearhart Inc. now owns 176,160 shares of the company’s stock worth $13,640,000 after acquiring an additional 13,146 shares during the last quarter. Institutional investors own 92.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FWONK. Wells Fargo & Company upgraded Formula One Group to a “strong sell” rating in a research report on Friday, February 21st. Seaport Res Ptn cut Formula One Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Morgan Stanley raised Formula One Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $115.00 in a research note on Wednesday, December 18th. StockNews.com cut Formula One Group from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $102.00 price objective on shares of Formula One Group in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.00.

Insider Buying and Selling at Formula One Group

In other Formula One Group news, CEO Gregory B. Maffei sold 35,463 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $71.53, for a total value of $2,536,668.39. Following the completion of the transaction, the chief executive officer now directly owns 1,240,785 shares of the company’s stock, valued at approximately $88,753,351.05. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.31% of the company’s stock.

Formula One Group Trading Down 3.1 %

NASDAQ:FWONK opened at $92.04 on Friday. Formula One Group has a 1 year low of $64.37 and a 1 year high of $102.33. The stock has a market cap of $22.89 billion, a price-to-earnings ratio of 80.04 and a beta of 0.11. The stock has a 50-day moving average price of $94.81 and a two-hundred day moving average price of $85.93.

Formula One Group Profile

Formula One Group, through its subsidiary Formula 1, engages in the motorsports business in the United States and internationally. The company holds commercial rights for the FIA Formula One world championship, approximately a nine-month long motor race-based competition in which teams compete for the constructors' championship and drivers compete for the drivers' championship.